My default chart is the 90-day Elliott and this indicates the market got close to a second Wave Five, so you would expect some ‘jostling’ at the top. Both buyers and sellers will be somewhat undecided in the near-term. And there is always plenty of news around for investors to use as the ‘bogey man’. Good news and bad news are both in ready supply at present.

This suggests a small retreat, and sooner than the 60-day suggests. I don’t fiddle with the day counts until I get what I want to see. I use different counts to challenge my core thinking. And by that I don’t mean ‘expectations’. In the markets - and in life - expectations can lead to disappointment.